Direct Tax Code : Replacement for Income Tax Act, 1961 possible recommendations

The Indian government is soon coming out with a new Direct Tax Code to replace the existing Income Tax Act, 1961. The direct tax committee entrusted with the preparation of the tax code is likely to submit its report to the finance ministry on Aug 15, 2019 and the government would immediately review its recommendations, announced Finance Minister Nirmala Sitharaman while speaking at a Confederation of Indian Industry (CII) interaction. The new direct tax code…

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